PREFACE

I am pleased to present the project report on "MARKETING

STRATIGIES OF GEETANJALI JEWELLERS” before my respected
readers. It is a humble attempt from my part to judge consumer
behavior for the effectiveness of existing and self designed ad-
copy of Spices.

This study deals with a number of topics, which will help the
reader understand and learn how consumers make consumption
decisions regarding Spices.

Language of the report is simple and lucid. Attempts have been

made to arrange the subject matter in a systematic and well-knit
style. Efforts have also been made to deal with all topics precisely
and gently.

I express thanks to all those prolific teachers and experts of

management whose theories and ideas have been incorporated in
this project report.

Despite of this it is very difficult to be perfect to the core and

mistakes do creep in for which I extend my apology and carve the
hospitality of the readers to point them out. Their criticism and
suggestions for the improvement in future are welcomed.

KETKI GOYAL
 ACKNOWLEDGEMENT

Preparing a project of this nature is an arduous task and I was fortunate

enough to get support from a large number of persons. Iwish to express
my deep sense of gratitude to all those who generously helped in
successful completion of this report by sharing their invaluable time and
knowledge.

It is my proud and previledge to express my deep regards to Respected

Mr. Anand Tiwari, Head, Faculty Of B.B.A. Department, Govt.
Autonomous Girls P.G. College of Excellence Sagar for allowing me to
undertake this project.

I feel extremely exhilarated to have completed this project under the able
and inspiring guidance of Mrs Shikha Urmil Khan He rendered me all
possible help and guidence while reviewing the manuscript in finalising
the report.

I also extend my deep regards to my teachers, family members, friends

and all those whose encouragement has infused courage in me to
complete the work successfully.

KETKI GOYAL

B.B.A. IV Sem. IInd Year

 CERTIFICATE

Date:

The project report titled "MARKETING STRATIGIES OF GEETANJALI

JEWELLERS” has been prepared by MISS KETKI GOYAL, IInd Batch,

under the guidance and supervision of MRS. SHIKHA URMIL KHAN

, for the partial fulfillment of the degree of B.B.A.(Hon).

Signature of the Signature of Signature of

Supervisor: Head of the the examiner

Department:
 DECLARATION BY THE CANDIDATE

Date:

I declare that the project report titled "MARKETING

STRATIGIES OF GEETANJALI JEWELLERS”is my own work conducted

under the supervision of MRS. SHIKHA URMIL KHAN, Department

Of Business, Management, Faculty Of B.B.A. Department, Govt.

Autonomous Girls P.G. College of Excellence. To the best of my

knowledge the report does not contain any work, which has been

submitted for the award of any degree, anywhere.

. MISS. KETKI GOYAL

4 SemesterIIth Batch
rd

INTRODUCTION
“Gold jewellery is often envisioned as a symbol of wealth and status.
Interestingly, buying gold jewellery is also one of the best ways to invest hard
earned money. Vibrant looks, exquisite design and the impeccable style, innate
to well crafted gold jewellery, make it nothing short of a treasure. Gold jewellry
is a striking piece of art and the aptly described as poetry in metal.”

India is the largest consumer of gold in the world. Country’s jewelry market is
mostly dominated by the unorganized sector. About 3lakh traditional retail
jewelers hold 96per cent of the market share, while large brands or organised
retail form only 4 per cent of the overall market.

Among the gold market, gems and jewellery segments shows highest potential
of growth the growth of retail business in this area. The Indian gems and
jewellery sector contributed to about 15 per cent of India's total merchandise
exports during 2005-06. And in 2006-07, it accounted for 13.7 per cent of the
country's total merchandise exports. The domestic demand for retail jewelry
(both branded and unbranded) was estimated at Rs 490 billion in 2005, with
diamond jewelry comprising Rs 80 billion. By 2010, according to a study by
McKinsey, the branded jewelry market alone would touch Rs 100 billion mark.
The sale of diamond jewelry in India has been increasing at a rapid pace of 25%
every year over the last two years. The branded jewelry segment has shown an
astonishing trend, increasing by 50% each year.

In the recent years, jewelry market has witnessed tremendous change. Old,
traditional ornaments are giving way for branded designs and gold is replaced
by diamonds and precious stones. Buying pattern is also changing. People are
more and more opting for branded jewelry than buying from a ‘family jeweler’.
This change has created ample opportunity for the retailers. Multi-national
jewellery brands such as Tiffany, Cartier, Zales and Harry Winston, all are
showing interest in setting up their shops in India. Government’s decision to
allow 51per cent FDI in single brand retail store also helped many foreign
retailers to enter into India.

Damas Jewelry, one of the world’s leading jewelry retailer entered India in 2003
with a 50-50 joint venture with Gitanjali Gems Ltd. Damas opened its first retail
store in Bangalore in 2005 and it increased its presence by another seven
showrooms in short span of 5 months. It intends to open another 30 showrooms
by 2006-07.

Generally, Indian consumer looks out for low-cost jewelry for daily wear and
prefers to buy from trustworthy jewelers. Diamonds, precious stones which give
elegant look not so expensive and changeable after few years of wearing are
preferred by the working class women. Some of the prominent brands in the
market are Adora, D'Damas, Oysterbay, De Beers and Carbon. There are about
30 major players marketing about 50 brands in India.

Keeping Indian consumers preferences and tastes Arens Gold Souk

International Limited has opened a special shopping mall for branded jewelry.
The company is planning to open about 100 Gold Souks in India in near future.

Jewelry retailers are exploring the vast India Gold and jewelry market,
especially brand jewelry in their own way of branding, suiting to the needs and
expectations of the consumer. Among Indian brands, for example, Nakshatra is
product specific, Asmi is feeling specific, and Glitterati is star oriented.

For thousands of years, Indian jewellery has remained unchanged with design
dictated by regional and religious tradition. Over the last few years, however, it
has begun to bubble with change. Economic reform and the impact of television
have suddenly opened the doors and latest global trends have found favor.
Fashion is now an important new sales driver and jewellery manufacturers are
scrambling to adjust their product design to cater to this segment. A host of
variables- the buying occasion, the wearing occasion, the economic strata of the
target segment and the effect of regional and religious influences on all of them
are now being juggled to find the winning mix.

A recent study of youth in India, a segment consisting of those under 35-

constituting a colossal 54 per cent of Indian population with high disposable
income and a propensity to spend, showed that young Indians today, despite
being a part of the global fraternity, would gladly choose to stay connected with
their cultural roots. This study makes it abundantly clear that connecting
tradition with trends is one of the keys to success in the Indian market.

Fashion jewellery integrates many aspects from the tangibles to the intangibles
and is evolved of an environment from purpose, material, technique, production,
user, economics, to aesthetics, values, perception, and time. No matter where
and when, a designer cannot proceed without considering all the aspects
involved in turning a concept to an actual product on the counter. Change is an
integral part of society and traditions need to be reinterpreted and restated with
subtle modifications to suit the changing times.

Jewellery industry hasn’t yet got around to really understanding the consumer.
The concept of design is still new to India, and it is not quite sure if serious,
systematic efforts are put in by Indian designers and companies to understand
what the Indian jewellery market is about, who the Indian consumer is and what
she really wants in a piece of jewellery. The jewellery institutes hold design
workshops for companies and they are often a complete revelation to most of
the older generation who attend them. One can understand trends and design,
but you cannot simply put the two together. A design is created keeping in mind
ones production base, corporate identity marketing and packaging efforts,
branding and the like.
 CHANGE IN PERCEPTION:

In the globalized era, jewellery in India, like many other traditional product
segments, is undergoing an astounding change of perception. While it continues
to enjoy the position of being an enhancer of beauty and means of security, the
new-age consumer perceives jewellery as a personal accessory that manifests
the wearer’s attitude, personality and lifestyle. It is imperative for jewellery
manufacturers to recognize this shift and adopt new, innovative approaches in
the creation of jewellery. This is what will enable them to establish an edge over
their competitors. On the other hand, a glaring reality is that the traditional
jewellery sector constitutes a significant chunk of the jewellery market. This
jewellery in most instances is handcrafted and bought from the family jeweler.
This segment has a strong socio-cultural bias, as the jewellery is bought for
auspicious occasions like weddings, engagements, and rituals. The decision to
buy a piece of jewellery is more often a family decision than an individual
choice. Jewellery in this segment is also a means of investment and future
security traditionally constituting the wealth that a bride takes with her to her
new home.

This offers the biggest opportunities to designers they need to understand that
traditional jewellery emphasizes a deep zymology and meaning socio-cultural,
religious and psychological- that places it way beyond its sole function of
adornment. There is an unimaginably vast opportunity for us to leverage this by
packaging the context of tradition and culture in designs that are universal and
contemporary in their aesthetic appeal. This blending results in a product that
stand out in today’s world where globalization has resulted in products being
massively homogenized and consequently losing their individual, cultural and
regional identity.
A lot of companies are already experimenting with this blending concept, but it
is important that the resulting jewellery, while keeping in mind traditional
reverence and meaning, should not look very ethnic. Here branding and
packaging play an important role in linking a new-look piece to its traditional
inspiration. The successful Nakshatra brand that launched by De Beers. Floral
designs have always existed in Indian culture with different communities
interpreting them in a myriad different ways. But the traditional jewellery was
heavy and worn only at weddings or for religious ceremonies. Most of the time
it stayed in safety deposit lockers. Nakshatra successfully reintroduced it by
modifying it into light, everyday-wear designs. Any sensitive designer today is
trying hard to establish a balance between tradition and trend. The interplay of
traditional technique and international design trend is apparent in today’s
Kundan (traditional 24-karat gem-set) jewellery.

Some designers have already incorporated the linear earring design, which is a
global trend today, into their kundan-studded earrings. A classic example of
mangal sutra, the traditional beaded necklace worn by women to signify their
married status, a social symbol that has remained unchanged in design for
millennia. The basic concept of black and gold beads with a pendant the centre
remains the same, but one can now have interplay of black, white and gold
beads. As for the pendant, the beads were first replaced by diamonds but have
now made a comeback. The variations in design are actually asked for today by
young brides of traditional and modern tastes. There exists a traditional Indian
woman within every modern woman and jewellery has to appeal to both.

Apart from the subtle changes in the traditional jewellery market, most
designers observe that more and more people today are interested in horoscopes,
chanting mantras, yoga and alternative therapies.Today’s consumers have a
strong interest in birthstones and the beneficial properties of gems.
Consequently, spiritual and auspicious motifs have seen a great comeback in
fashion, including the jewellery segment. Thus the Rudraksha, Ganesha and
religious swastika motifs, the traditional nine-gem or Navratna combinations
and many other auspicious concepts have become very popular in the Indian
jewellery market over the last couple of years. Indian designers incorporate
these motifs into current fashion so harmoniously that they are as current as the
latest trends.

The Indian USP Unlike many other fashion markets in the world, which are
more homogeneous in character, the Indian market demonstrates a great element
of duality, particularly in traditional product segments like jewellery. Indian
consumers operate with two contradictory mindsets when deciding to buy a
piece of jewellery. At heart, we remain quite rooted in culture and tradition and
continue to revere and value jewellery as a time-honored possession. On the
other hand, the same consumers exhibit contemporary urban traits and see
trendy jewellery as an extension of their personality and lifestyles. They opt for
brands, thereby emphasizing their perceived worth accorded to a piece of
jewellery. The jewellery buying pattern in the Indian market is also changing.
For instance, the Indian woman today is economically independent and does not
seek approval from her father or husband to buy jewellery as was the case
earlier. Indian fashion does not surrender to the burdens of fall-winter or spring-
summer influences. In India people stick to their personal tastes and do not
kowtow to the imposed opinion. It could also be because most of them cannot
afford the routine makeover of the wardrobe another interesting feature is that
the Indian consumer looks for the longevity in a product. Hence the product
supersedes the season. Also, Indians might see tough competition from other
luxury items like high-end mobile phones, travel, and the like, Indians have a
rich culture and heritage, which continue to respect and follow despite changing
modern attitudes. Jewellery is far too integrated into lifestyles to get affected in
one generation. This could all change some two generations down. The good
part is that they still have the luxury of time to work on it, unlike the west.

It is felt during a recession; jewellery comes in last and goes out first. While
buying, jewellery is last on the list. Although mobile phones are a luxury item,
they have become a necessity. Nonetheless, the Indian market is getting stronger
by the day; it will see a big change in the tastes of the Indian consumer within
three or four years. And while many point to the growing use of diamonds in
Indian jewellery, complete makeover is still a way off. Rural India still has a
mindset for plain gold jewellery, as it is easily traded as compared to diamonds
(meaning investment is still a big jewellery purchase driver). And rural India
accounts for a major chunk of jewellery consumption. There are several trends
running parallel in the Indian market as far as the design life cycle goes. While
in the traditional jewellery market, change is gradual, spread over years, in the
urban segment, it is quick and ongoing. Moreover, in precious jewellery, the
evolution is much slower and most often, jewellery in the high-end segment
tends to have a long-term appeal. However in the fashion segment, it is very
important to tie it to trends, as the price points for these are much more
affordable, and this is where the consumer is able to experiment.

The product life cycle in India is much longer because of the high value costs
involved. Other lifestyle products undergo four fashion cycles a year, but
jewellery cannot follow this pattern. Only between one and three per cent can
afford to buy so frequently. Trends in jewellery change at much lower rate as
compared to the rest of the luxury market due to the high costs involved.

Designing To Follow Fashion:

With so much change and so many variables to consider, most jewellery

designers agree that it is vital to understand the holistic lifestyle practices of the
customer, visit jewellery stores across the country, national and international
fairs, fashion weeks and travel to observe what people wear in terms of their
garments and accessories. All these provide valuable inputs to a designer. It’s
important to watch the fashion segment for the colors, styling and detailing on

the garments. One need to study the necklines that are in vogue to decide the
profiles of the neck- wear that you are going to design. A good example of
fashion trends affecting jewellery design was the layered look. A few seasons
back, all the big design houses were suddenly wrapping up their models in
many layers of different materials. This concept took off in the jewellery
industry like a rage with designs featuring many different beaded necklaces and
bangles at the same time.

A designer has to also keep in mind the wear ability of the piece while being
conscious of trends. Indians have traditionally preferred emeralds and rubies for
the color in their jewellery but that of late, a variety of colors and types are in
vogue.

Today Indians want topaz, tourmaline and even synthetics if they give them the
look they want. But even after factoring all the variables, most designers will
tell you that there is no such thing as a single, homogenous Indian jewellery
market. Geographic location and ethnic differences break it up into distinctly
different markets with differing tastes. When one designs for the Indian market,
one has to definitely keep these aspects in mind. But, the contemporary
jewellery segment responds closely to the changes in the global market and the
consumer base is not wholly segmented by geographic location or ethnic
groupings. Internationally, companies and marketers are segmenting consumers
in the context of their attitudes and values, tastes and preferences, lifestyles and
living patterns. However, there is a specific, identifiable customer base in cities
like Delhi, Mumbai, Hyderabad and Bangalore, that is more willing to
experiment with new designs and concepts.

Delhi definitely is very quick to catch on to trends which are bold and visible.
Bombay is more style oriented where people are more aware of what works for
them individually and whether it suits their personalities. The south tends to stay
with a more classic approach. In Chennai, gems are a no-no. Though jewellery
is forever evolving, the underlying essence of a particular region is always
visible in it. Look at a bride from any particular region of India. Even the most
modern north Indian bride will shun international brands on her big day and opt
for culturally and traditionally rich embellishments like Kundan jewellery, while
a south Indian bride would go for temple jewellery. Indians attach a
considerable amount of emotional value to jewellery though this does not affect
the design concepts of fashion jewellery. There is a very small segment
emerging of highly fashion- conscious individuals who are ready to experiment
with tradition. There is also another segment of people who are artistically
inclined, and prefer handcrafted or artistically appealing jewellery. And then
there are collectors who go for customized pieces that are unique in design,
material, craftsmanship or technique. Fashion designers empathize with

this drift and thus are exploring more and more possibilities in terms of
integrating regional tastes with the fashion dictates of today. Hot, Evolving
Market India is hot today, and tastes are moving from local to global. The
market for designed goods is fast evolving. From the fashion weeks becoming
popular in India, to Indian design stores and Indian designer labels becoming
fashion icons globally, India on the path to becoming a design centre for the
world.

Five or ten years ago, one could clearly distinguish between a western and an
Indian design. But today, the distinction is blurring. Plus, the idea of fusion has
brought the two worlds together. Indian designs are readily accepted in the west
and vice versa.

Designers and consumers both are more open to experimentation and there are a
lot of new exciting materials being used today. Italian rubber, amalgamation of
precious and non-precious, leather, wood, suede, fabric, plastics and other
unusual combinations are commonly seen. The characteristics of costume
jewellery have penetrated the mainstream precious jewellery market and in the
large cities, the jeweler does not now hesitate to display these as his unique
sales proposition. Also, value addition is achieved with new stone settings and
cuts, surface finishes and textures on metals and cross cultural forms. In about
five to ten years, the Indian market will have an identity of its own especially
because of globalization.

The last two years have shown a shift from a preference for diamonds to colored
stones, while white gold is being accepted by middle and higher-end consumers.
 SOME FACTS ABOUT GEMS AND JEWELLERY

When Britain's Prince Charles returned home after his recent trip to India, he
carried with him a glittering Nakshatra pendant presented by the Diamond
Trading Company (DTC). A gift fit for a prince, and fitting gift for him to
receive in a country where the rock is fast becoming the ultimate style
statement.

From Sushmita Sen flashing an eleven-carat stone on her finger, to elegant

dewdrops for boardroom belles and nine-to-five fashion for working women,
Indian women have taken Mae West's wise words to heart: "No gold-digging
for me, I take diamonds! We may be off the gold standard someday!"

Diamonds are not restricted to the celeb set anymore, nor are they a once-in-a-
lifetime indulgence.
Whether dazzling white or sparkling champagne, they are the stone for all
occasions—from office parties to page three dos. Competition is intensifying in
the $70-billion global diamond jewellery market, as rising wealth in Asia buoys
demand. And India will easily top that growth, because jewellery has always
avowedly been a part of the country's tradition and lifestyle.

This year, demand for diamond jewellery in India will have grown 40 per cent,
on the back of a 30 per cent growth in 2005. Diamonds account for nearly 70
per cent of the Rs 60,000-crore gem and jewellery industry, in value terms the
highest share in any country. Over a million people are employed in this
business across Gujarat and Maharashtra. Exports went up 15 per cent last year.
These are facts that allow DTC, the marketing arm of the De Beers group,
which supplies half of the rough diamonds sold worldwide as well as half of all
diamonds sold in India, to set its sights and hopes even higher. In volume terms,
India is now DTC's third largest market, accounting for seven per cent of total
business after the US (50 per cent) and Japan (13 per cent). But in terms of
growth, India heads the DTC chart.
So what's making diamonds overtake gold as the Indian woman's best friend?
Compared to mass-produced gold jewellery, each stone can be unique,
depending upon the cutting. What lends a special touch to the uniqueness is that
every stone is between a billion and three billion years old. Bet you didn't know
that!
As a result, the industry is witnessing a surge in marketing and branding.
Gitanjali Gems, for instance, which recently mopped up Rs 300 crore-odd
through a public issue, has 85 per cent of sales revenues coming from
diamonds, compared to 15 per cent from gold jewellery. That is getting
increasingly visible in the profitline too—more than 55 per cent of its profits
come from diamonds.
Both style and quality are important when selecting a diamond. Contrary to
perception, it's the young girls spending their parents' money who go for
complete sets, while women buyers prefer individual pieces. The largest volume
of purchase occurs in the Rs 1-3 lakh range.
Gitanjali, one of DTC's sightholders (experts who select and purchase rough
diamonds), owns reputed brands like Asmi, Gili, Sangini, and D'damas, apart
from the new, very premium Victoria's Desire. DTC is also developing the
Nakshatra brand, worth Rs 100 crore as the umbrella brand, along with Orra and
Arisia. Cherie Tandon Saldanha, the company's marketing director for India,
believes that with increasing disposable income, and a growing trend away from
unbranded, heavy jewellery towards modern, light yet expensive stuff, sky is the
limit for the industry. DTC spends about Rs 30 crore a year on brand promotion.
The idea is to create a high aspirational image, where it has been largely
successful.
Says Mehul Choksi, chairman, Gitanjali group: "The runaway demand for
diamonds is a result of three factors: strong communications, fashion appeal and
confidence in their value. " And this has happened despite diamond prices rising
by around 15 to 20 per cent every year. Affordability, rather than price, is a
factor. And diamonds have become more affordable than before, thanks mainly
to a revolution in designing, branding and marketing. With gold prices zooming
for the past one year, diamond jewellery has become Value For Money!

As in international markets, where 90 per cent of the jewellery is sold as a

fashion accessory for everyday wear, and not as an investment, branded
jewellery is now being positioned in India as a lifestyle and personality
statement. Branding also attaches faith to the product. All branded jewellery
comes with certification, which is useful if you're buying it as an investment or
are interested in reselling or exchanging it at a later stage.

The increasing market presence of diamond companies is mirrored in their stock

prices as well as the commodity markets. The rising number of millionaires in
India and the surge in consumption of luxury items will only make these rocks
shine brighter than ever.

India and diamonds are the best known combination throughout the diamond
industry. Though India was known to have diamond mines many centuries ago -
the fabulous Kohinoor is an Indian diamond - it has virtually no mines today.
However, India has continued to maintain its tradition of diamond cutting and
thousands of people are involved in this skilled occupation.

Today, with its cut and polished diamonds, colored gemstones, gold jewellery,
pearls, non-gold jewellery and fashion jewellery, India accounts for almost 50%
of the international market. The gems and jewellery sector contributes nearly
55% of the world’s net exports of cut and polished diamonds in value, 90% in
terms of pieces and 80% in terms of carats. Every 11 of 12 diamonds sold
around the globe are processed in India, irrespective of where these are mined.
With the right policy and regulatory framework, India could establish itself as a
brand in the international Gems & Jewellery market, increase employment and
create new breed of entrepreneurship.

Apart from being the world’s largest diamond processing (cutting and polishing)
country with an 80 per cent share in world market India’s favorable trade
policies have made India the hub for gems and jewellery. The burgeoning retail
industry in India is instrumental in innovatively marketing and branding
diamonds and traditional jewellery, making inroads in this sector and
contributing to the nation’s economy.

The Indian consumer has lately become the focus of every retailer's eye, proof
being the international brands flocking in to set up franchises in India.
Economic boom coupled with retail sales explosion has made a smooth pathway
for all those who understand the art of retail in India. Due to the Economic
boom in the country, India is emerging as a very big Consumer Market for
jewellery and other luxury products and offering a very lucrative opportunity for
major brands to establish presence in the Indian market. The booming domestic
market along with export advantage of the industry and the Government's
decision to allow foreign direct investment of up to 51 per cent in single brand
retail stores has attracted a large number of players to the sector.

Players like Reliance, pantaloons, Wal-Mart, etc have already set up shops in
India. The Reliance group plans to spend $5 billion in new retail formats
including malls and combined service and retail formats along the evolving
Indian highway system. Global behemoth Wal-Mart has also officially entered
India with a strategic tie-up with the Bharti group. Wal-Mart will provide the
back-end services such as sourcing and supply-chain management for the Bharti
group’s planned retail formats across the country as well as an initiative to
supply the countless small, convenience stores that dot the countryside all
across India- reaching out directly to the consumer.

Branded jewellery is the new mantra in the market, having rapidly acquired a
niche over the past few years. Increasing purchasing power and disposable
incomes of India’s middle class has resulted in consumption growth of this
industry by about 11 per cent in the five-year period preceding 2006-07. Add to
that the insatiable Indian craving for gems and jewellery, and the demand will
skyrocket to US$ 20 billion by 2010 and US$ 30 billion in 2015, according to
industry experts. Focused marketing creating awareness and demand for the
products, innovative product range creating excitement and expanding the
category as well as transparency and adherence to best practices will help build
consumer confidence.

The surprising thing about retail investment is that about 20 per cent of retail
effort – in a planned manner – is targeted at rural areas, which is defined as
towns with a population of less than a million. India has seen a significant
growth in disposable incomes as a result of the economic growth that it has been
enjoying. This income is spread in the rural areas also. According to the Tata
Statistical Outline of India – 2005-06, around 60 per cent of the rural income is
from north and east. Depending on the size of the market, retailers work with
multiple formats – currently they are partnering with local jewellers and these
jewellers retail their brands, commonly known as the ‘shop in shop’. These
stores would carry a merchandise mix and are in the range from 600- to 1,000
square feet.

Retailers are also looking at mobile store concepts and thinking of innovative
ways to connect to the consumer. Brand building, and creating brand identity is
the focus of every retailer in India at present. Indian retailers see a huge
jewellery consumer market in India but there is a slight speculation that they
might soon face stiff competition from within as well as from international
brands who are rapidly setting up chain stores.

India consumes nearly 800 tonnes of gold accounting for about 20 per cent of
the world gold consumption. Out of which nearly 600 tonnes goes into making
jewellery. According to The World Gold Council (WGC) total gold supply in the
second quarter this year stood (Q2FY08) at 840 tonnes, whereas the demand
was 944 tonnes. A study by KPMG reveals the Indian jewellery market to be
US$ 13.5 billion in fiscal 2006-07, accounting for 8.3 per cent of world
jewellery sales. However the export of diamond-studded jewellery from India is
merely 4 per cent of the total export of gems and jewellery worth US$ 18.06
billion. Since the demand of diamond-studded jewellery among Indian
consumers has risen sharply, the industry should focus on the domestic market.
Diamantaires, in Surat's US$ 11.29 billion diamond industry, are eyeing
jewellery manufacturing in a major way, after DTC has decided to prune supply
of rough diamonds to India. If India becomes a manufacturing hub for jewellery
as well as a consumption market it will just prove India’s strength in both
sectors.

The government has offered some concession to the industry by lowering

import duty on platinum from US$ 13.82 per 10 gms to US$ 5.03 – exempting
rough coloured precious gems stones from customs duty at the first stage itself,
instead of claiming reimbursements later. Rough, semi-precious stones are
already exempt, a move aimed at further promoting the exports of studded
jewellery and platinum jewellery. Duty-free import of consumable metals other
than gold and platinum up to 2 per cent of f.o.b. value of exports and duty-free
import entitlement for rejected jewellery up to 2 per cent of f.o.b. value of
exports. There is increased duty-free import of commercial samples of jewellery
to US$ 2.50 and import of gold of 18 carat and above under the replenishment
scheme.

The Indian retail scene is set to flourish and there is no looking back for those
who know how to sell jewellery to an Indian woman, since jewellery is a part of
Indian tradition and customs.

Gold Information

Gold is a highly sought-after precious metal in the world. One of the oldest
precious metal in the history of mankind, it had been used as money, as a store
of value, in jewellery, in sculpture, in medicine, in electronics and for
ornamentation. Gold does not tarnish, rust or corrode. Due to its wonderful
qualities and its magnificent luster, gold is considered the most important metal
in jewellery making.

The purity of gold is measured in terms of karats. Pure gold is designated as 24

karat. A karat is the percent of pure gold in the alloy. One can determine the
percentage of pure gold in any gold piece by dividing the karat by 24 (e.g., 18
karat gold: 18/24 = 0.750 = 75% pure gold).
As pure gold is soft, it is frequently mixed or alloyed with other metals in order
to make the gold harder to be used for jewellery. Also mixing of gold with other
metals affects the colour. For example, gold must be alloyed with different
metals such as silver, nickel, palladium, copper, bronze, aluminium in order to
get different shades of gold i.e. yellow gold, white gold, green gold.
The karat scale is used for measuring the proportion of gold in jewellery.
Accordingly, 24karat denotes pure gold. 18 karat gold is 75 % gold and 25 %
alloy, and so forth.
Karat Percentage Pure Gold Fineness (European Marking)
24 100 999
22 91.67 917
18 75.00 750
14 58.30 583
10 41.67 417
9 37.50 375
In India, 18 karat and 22 karat are the most popular forms of gold jewellery. The
18 karat is popular because of its rich colour and durability.

Gold alloys can also affect the colour of gold. The following list includes the most common
colours of gold alloys and the metals used for producing them:

Color of Gold Additional Metals Used

Yellow Gold Copper, Silver

White Gold Nickel, Zinc, Copper

Green Gold Silver, Zinc, Copper

Rose Gold Copper, Silver

Gold Jewellery Market in India

Before the liberalization of the Indian economy in 1991, only the Minerals and
Metals Trading Corporation of India (MMTC) and the State Bank of India (SBI)
were allowed to import gold. The abolition of the Gold Control Act in 1992,
allowed large export houses to import gold freely.
Exporters in export processing zones were allowed to sell 10 percent of their
produce in the domestic market. In 1993, gold and diamond mining were
opened up for private investors and foreign investors were allowed to own half

the equity in mining ventures. In 1997, overseas banks and bullion suppliers
were also allowed to import gold into India. These measures led to the entry of
foreign players like DeBeers, Tiffany and Cartiers into the Indian market.
In the 1990s, the number of retail jewellery outlets in India increased greatly
due to the abolition of the Gold Control Act. This led to a highly fragmented
and unorganized jewellery market with an estimated 100,000 workshops
supplying over 350,000 retailers, mostly family-owned, single shop operations.
In 2001, India had the highest demand for gold in the world; 855 tons were
consumed a year, 95% of which was used for jewellery. The bulk of the
jewellery purchased in India was designed in the traditional Indian style.

Jewellery was fabricated mainly in 18, 22 and 24 carat Gold as Hallmarking was not very
common in India under caratege was prevalent. According to a survey done by a Bureau of
Indian Standard (BIS), most Gold jewellery advertised in India as 22- carat was of a lesser
quality. Over 80% of the jewelers sold Gold jewellery ranging from 13.5 carat to 18- carats as
22- carat Gold jewellery.

24 Carat 100 percent pure gold

22 Carat 91.66 percent pure gold
20 Carat 83.33 percent pure gold
18 Carat 75 percent pure gold
2 Carat 8.33 percent pure gold
1 Carat 4.166 percent pure gold
The late 1990s saw a number of branded jewellery players entering the Indian
market. Titan sold Gold jewellery under the brand name Tanishq, while
Gitanjali jewels, a Mumbai based jewellery exporter, sold 18- carat Gold
jewellery under the brand Gili. Gitanjali jewels also started selling 24- carat
Gold jewellery in association with a Thai company, Pranda. Su- Raj (India) Ltd.
launched its collection of Diamond and 22- carat Gold jewellery in 1997.

The Mumbai based group, Beautiful, which marketed Tiffany range of products
in India, launched its own range of studded 18- carat jewellery, Dagina. Cartiers
entered India in 1997 in a franchise agreement with Ravissant. Other players
who entered the Indian branded Gold jewellery market during the 1990s and
2000-01 included Intergold Gem Ltd. Oyzterbay, Carbon and Tribhovandas
Bhimji Zaveri (TBZ).

BRANDED JEWELLERY FIRMS

GITANJALI:

Gitanjali Group a 5000 crores company, strategically positioning itself as the

leading diamond studded jewellery-manufacturing company, today has one of
the largest fully integrated diamond and jewellery manufacturing plants in the
country. The Group, which has been a pioneer in the branded jewellery industry,
has always been at the threshold of boosting the production of quality jewellery,
which has obliquely proved to be an excellent, branding and marketing strategy
backed by a formidable retailing network - all ensuring the group an enviable
advantage in the jewellery arena. The Gitanjali Group is engaged in the business
of sourcing rough diamonds, its manufacture, import and export of diamonds,
manufacture of plain and diamond studded gold and platinum jewellery and its
marketing and domestic retailing. As Jewellery exports form one of the largest
contributors to the foreign exchequers, the jewellery major Gitanjali, is one of
India’s high-end contributors to the foreign exchequer as well as a major
player in the domestic market.

Gitanjali has four decades of experience, being one of the earliest diamond
houses in India. Having received over 50 National and Council awards from the
Ministry of Commerce for outstanding exports, it is today one of the largest
diamond exporting companies in India. Presently the Gitanjali Group has highly
modernized diamond cutting and polishing facilities at 5 locations in India and
globally diversified manufacturing operations in Bangkok, Vietnam and China
and a marketing network spread across Europe, Hong Kong, USA and Japan.
The very basis of their existence is to successfully develop, produce and sell
high-quality jewellery brands worldwide & helps the customers in getting the
maximum Value for Money in the process.

In 1994, Gili Jewellery was established as a distinct brand by Gitanjali Jewels,

soon after the abolition of the Gold Control Act by the Indian government. Gili
offered a wide range of 18-carat plain gold and diamond-studded jewellery,
designed for the contemporary Indian woman. The designs combined both the
Indian and western styles and motifs. With sales of Rs.0.14 billion for the year
2000-01, Gili had a 0.03 percent share of the 400 billion jewellery market in
India and a 1.4 percent share of the branded jewellery market.
Gili distributed its jewellery priced between Rs. 500 and Rs. 40,000 through
lifestyle and department stores across the country to increase accessibility
among its target segment, the 15 to 30 age group. The company's products were
also made available through a mail-order catalogue. In 1997, Gili launched a
collection of traditional Indian ornaments made of 18-carat gold. In 1999, the
Gili Gold range was introduced. This range included rings, pendants, earrings,
necklaces and bangles made of 24-carat gold. All Gili products came with a
guarantee of diamond and gold quality. When research conducted in February
2000 showed that there was a big gap between the Rs. 1000 and Rs. 10000 price
segment and keeping in view the teenage population, and the kind of pocket
money they had, Gili brought out a collection targeting teens.

In 2000, Gili launched its 'diamond heart collection' targeted at teenagers and
priced between Rs 500 and Rs.2500. The collection was promoted at college
campuses with banners, pamphlets and a few advertisements targeted at teens.
Gili soon realized that just pushing its product was not enough; it also had to
customize its products for special occasions. Following this, it launched a
Diamond Heart Collection specially designed for Valentine's Day. This
collection consisting of tiny, heart-shaped diamond jewellery was well received
by teens (Refer Exhibit VI). Special packaging, catchy advertising and
extensive press coverage contributed to the success of the collection. Gili also
made special promotional offers during festive seasons like Christmas and
Diwali.

Having captured the low price point market of Rs.2000 to Rs.10, 000, in 2000,
the company focused on penetrating the premium market of customized
jewellery. For this, Gitanjali jewels opened a jewellery salon, Gianti, to provide
customized jewellery to clients in India.

GITANJALI RETAIL BUSINESS

 Gitanjali has strong retail presence in the world’s largest markets for
jewellery. Retail business is a major Contributor in Gitanjali’s revenue.
Gitanjali has over 2000 plus retail outlet across India and in the process
of expansion in tier II and III cities to cater to new segment of the
customer.
 USA is a largest jewellery consuming country and 45% of worldwide
diamond jewellery sales are made in the United States. In FY 2007-08,
Gitanjali made a strategic acquisition in USA, including Samuels and
Rogers, and now has about 137 stores in Centre and across USA, being
expanded to 200 stores in the near future.

 Samuels and Rogers of Gitanjali are the 8th largest branded jewellery
retail chain in US.

 Gitanjali’s integrated supply chain business model has given an

advantage to survive and post profit despite of US recession.

 Gitanjali retail business has spread through all channels and in all
geographies, across all the market segments

 Net Profit has gone up because of shift in market from wholesale to retail.

MARKETING STRATEGY
 Gitanjali’s strategy is to increase the market share of various brands and
its positioning in the market. Strategy is to generate demand for branded
diamond jewellery in the future
 Gitanjali has also acquired a 76% stake in Salasar Retail and will roll out
multi-format retail stores under the ’Maya’ brand. The Salasar stake gives
 Gitanjali Lifestyle 10 multi-storey stores with 200,000 square feet of
retail space in Northern India.

 Flagship product brands of the company are able to convert themselves

into retail brands.

 The group has introduced many promising brands to its bouquet. The new
collection includes World of Solitaire, World of Silver, ME Solitaire,
Maya, Gitanjali Menz, Maya Bridal, Bezel and many more.

INDUSTRY
 Overall Gold and jewellery industry is estimated to be about USD 35
billion, out of which 12-15% is constituted by diamond jewellery market.
i.e. USD 4 billion, 10% of which is branded jewellery market accounts
for USD 500 million
 Overall Industry is growing at the rate of 15-18% and where as share of
diamond jewellery is growing at 18-20%

 Out of 10 leading gems and jewellery brands in India 6 of them are under
the Gitanjali umbrella. Share of branded diamond jewellery in India is
growing by 25-30% and therefore, share of Gitanjali growing at that pace.

 In modern retail, Gitanjali holds 65-70% market share

 These industry dynamics has compounding effect on the growth of the

Gitanjali Gems.

COMPANY PROFILE

Gitanjali Gems Ltd is one of largest integrated diamond and jewellery manufacturers
and retailers in India. The company is engaged in sourcing of rough diamonds from
primary and secondary source suppliers in the international market, cutting and
polishing the rough diamonds for export, manufacturing and selling of diamonds and
other branded and unbranded jewellery. They also manufacturers and sell diamond
and other jewellery through the retail outlets in India. The company sells their branded
jewellery under the name, Nakshatra, Asmi, Gili and D'Damas. They are having two
modern manufacturing facilities located at Borivali in Mumbai and at the Special
Economic Zone in Surat. Further, the company has two modern jewellery
manufacturing facilities at MIDC at Andheri, Mumbai and a facility at the Santacruz
Electronic Export Processing Zone at Andheri, Mumbai. Gitanjali Gems was
incorporated in the year 1986.The company was converted into a limited company
September 2000. From being primarily involved in the cutting, polishing and
processing of diamonds, Gitanjali emerged as one of the few organized and integrated
players in the Indian gem and jewellery industry. In the year 1990, the company
commenced production of diamond studded and other jewellery at their manufacturing
facility at the SPZ at Andheri, Mumbai. In the year 1994, they commenced their retail
sales though their associate company Gili India Ltd. During the year 2005-06, three
groups of companies namely Gemplus Jewellery India Ltd, Prism Jewellery Pvt Ltd
and Giantti Jewels Pvt Ltd were merged with the company. Pursuant to the scheme of
amalgamation, CRIA Jewellery Pvt Ltd became a subsidiary of the company with
effect from April 1, 2005 and D?damas Jewellery (India) Pvt Ltd became a joint
venture company. Gitanjali Exports Corporation Ltd became a subsidiary on
September 20, 2005 subsequent to increase in share holding to 51% by the company
and in October 2005, Hyderabad Gems SEZ Ltd became a wholly owned subsidiary of
the company. In March 2006, the company formed a joint venture company with
Sanghavi Exports namely, Spectrum Jewellery Pvt Ltd for manufacturing and
marketing the Sanghini brand of Diamond Jewellery. In May 2006, Shubalavanyaa
Jewel Crafts Pvt Ltd became a subsidiary of the company and in July 2006, Desire
Lifestyle Pvt Ltd has become a wholly owned subsidiary of the company. In July
2006, the company entered into a shareholder's agreement with Modern India Ltd to
form a joint venture by way of subscription to equal number of Equity Shares of
Modali Distributors Pvt Ltd. During the year 2006-07, the company increased their
stake in Gili India Ltd, thereby the company became a subsidiary company. The
company through their subsidiary Fantasy Diamond Cuts Pvt Ltd, along with Diadem
Ranka International Pvt Ltd, formed a joint venture company Diadem Ranka Desire
Lifestyle Pvt Ltd, engaged in the business of gold and diamond jewellery. During the
same year, the company incorporated a wholly owned subsidiary company namely
Gitanjali Infratech Ltd. Also, they incorporated Gitanjali Ventures DMC in Dubai for
trading Diamonds, precious stones, diamonds jewellery and perals. The company
acquired the majority stake in Samuels Jewelers Inc a US based company engaged in
the business of merchandising jewellery and also purchased a majority interest in Tri-
Star Worldwide LLC. During the year 2007-08, the company formed wholly owned
subsidiaries namely Raigad Gems SEZ Ltd, Aurangabad SEZ Ltd, Nanded SEZ Ltd,
West Bengal SEZ Ltd, Nashik Multi Services SEZ Ltd and Nagpur Multi-Products
SEZ Ltd as Special Purpose Vehicle for development and execution of the project. The
company has completed the process of acquisition of required land measuring 10.035
hctrs at Panvel, Raigad and in the process of acquiring required land in respect of their
other SEZ projects at Aurangabad, Nanded, Nashik and Nagpur. They also expanded
their diamond and jewellery manufacturing facilities by setting up state-of-Art
Modern factory in Hyderabad SEZ for diamond processing. In April 1, 2007 D?damas
Jewellery (India) Pvt Ltd, a joint venture company became a subsidiary company and
in May 2007, the company set up a wholly owned subsidiary company, Gitanjali
Lifestyle Ltd to build and promote luxury malls across the country. In September
2007, Ivida Technologies Pvt Ltd was incorporated as a wholly owned subsidiary
company and thus they forayed into the software, technology and telecom business. In
November 2007, the company acquired 100% stake in Rogers Ltd Inc, a US based
company and also acquired the Brand Asset 'Nakshartra' through one of their wholly
subsidiary Gitanjali Ventures DMCC. The company signed a joint venture agreement
with Netherlands based ARMO Netherlands Finance BV to form a JV company
Morelleto India Pvt Ltd, to carry on their business of manufacturing, assembling,
importing, exporting etc. The company increased their stake in Brightest Circle
Jewellery Pvt Ltd and thus made BCJPL became a wholly owned subsidiary and
acquired Renaissance Retail Venture Pvt Ltd through their wholly owned subsidiary
Gitanjali Lifestyle Ltd. Also, they signed a MoU with Mariella Burani Fashion Group
of Italy through their wholly owned subsidiary Gitanjali Lifestyle Ltd to form a Joint
Venture in India. In March 2008, Mohar Jewels Ltd was incorporated as a wholly
owned subsidiary for carrying on the business of providing safe deposit vault,
displaying and export of Gold Jewellery. The company acquired Trinty Watch
Company Pvt Ltd, through their wholly owned subsidiary Gitanjali Life style Ltd
engaged in the business of sale of watches under their registered premium brand Iris.
Also, they acquired 100% shares of Modali Jewels Pvt Ltd, earlier a joint venture
company. In May 2008, the company formed Kolkata Axis Mall Ltd through their
wholly owned subsidiary Gitanjali Infratech Ltd. In June 2008, the company made
Eureka Finstock Pvt Ltd and Decent Securities & Finance Pvt Ltd as wholly owned
subsidiaries which were earlier promoter group companies. Also, the company
acquired 100% stake in B Vijay Retail Ventures Pvt Ltd through their wholly owned
subsidiary, Gitanjali Lifestyle Ltd. In October 2008, the company increased their stake
in Gitanjali Exports Corporation Ltd to 100% and thereby made the company a wholly
owned subsidiary company

BOARD OF DIRECTORS
Mr. Mehul C. Choksi Mr. Nehal Modi
Chairman of the Board Non Executive Director

Mr. Nitin Potdar

Independent Director
Mr. Sujal A. Shah
Independent Director

Mr. S. Krishnan Mr. Dhanesh V Sheth

Independent Director Non Executive Director

HISTORY
In 1994 the Gitanjali group introduced India’s first ever branded jewellery Gili.
Rated as a super brand, the brand still ranks as one of the top ten jewellery
brands in the country. Over the years the group has launched many other
superior brands and today it successfully manages over five of the ten best-
known jewellery brands in India.

Gili’s primary brand value is “Genuine diamond and gold jewellery at

affordable prices”. The first jewellery brand that brought diamond jewellery
within the reach of masses.

The Company was originally incorporated on August 21, 1986 as a private

limited company and became a deemed public limited company pursuant to
Section 43A of the Companies Act, 1956, as amended, with effect from August
2, 1991. The Company was subsequently converted into Gitanjali Gems
Limited, a public limited company pursuant to a certificate of change of name
dated December 8, 1994.

Collections
 GILI

Products: Diamond, Rings, Pendants, Bracelets, Earrings, Bangles, Two-

Tones, Color Stones, Sets.

Collections: Valentine Commitment, Chinese Zodiac, Sign Zodiac, Gili Teens,

Corporate Gifts, Pendants, Agni, Diamond Heart, Princess and Forever

Collection

Gili has a unique and timeless collection of precious jewellery. What's more,
these fabulous pieces are available at really affordable prices, with the Gili
certificate of authenticity

In 1997 Gili introduced Rivaaz, a collection of ethnic Indian jewellery. The

brand has also come out with a range of 24-carat jewellery with a guaranteed .
995 fineness under the launch name Gili Gold. Gili has also launched a range of
diamond clusters under the name Agni set in yellow and white gold. It has to
its credit added Gili plus, a premium range of diamond-studded jewellery
priced above Rs 20, 000.

Brand Ambassador
Bipasha Basu gives brand glitter to Gili. Bipasha Basu Pose for Gili Jewels –
Huge Scan going by the promos of ‘Bachna Ae Haseeno’

Bipasha Basu, a leading Indian film actress has been signed on by Gitanjali
Group as the new brand ambassador for its diamond jewellery retail brand Gili.
The actress will be the new face for an undisclosed time frame.

The Gili brand has been one of the very first diamond jewellery brands in India.
It has grown over the years into 500 outlets across 30 cities in the country,
besides being retailed through shop-in-shop formats.

Gili has been noted for its unique retailing formats, by setting up its stores at
sites like airports in elite areas. Its exclusive showrooms are called 'Gili World'.

Mehul Choksi, Chairman, Gitanjali Group and Nakshatra, said, “In our effort to
find the right brand ambassador for Gili, a brand of mass appeal, we have
stumbled upon Bipasha Basu to endorse her alluring personality on its products,
which is a rhapsody of the traditional and modern. Not only were we
enthusiastic about the brand fit, but we also feel that Bipasha lends a refreshing
look to the brand. We are excited about having her on board as the new face for
Gili.”

Services
 After Sales services to retain the customers: Gili
wants its Customers to be delighted every time they shop. Occasionally though,
there are situations where customer would like to return the product or exchange
it with a new one. Understanding this need of consumer Gili introduced
Exchange Policy& Buy Back Policy at any point of time & anywhere in India.
It helps Gili to retain their customers & forms a good relation; also customers
become Brand Loyal because of such services.

Gili was the first one to come up with Branded Diamond Jewellery in India, Gili
is not the No.1 Brand; but Gili is one of the Top 5 Diamond Jewellery Brands.

Current events: - Gili Launches the 'Heart of Gold' and Gili Turns 10

Market Shares
In February this year, GGL raised around Rs.330 cr. through an IPO of Rs.1.70
cr. shares at Rs.195 per share to invest in its subsidiaries/ associate companies
expand its manufacturing capacities and penetrate the retail market besides the
development of the SEZ near Hyderabad. For FY06, it recorded 20% rise in
top-line to Rs.1621 cr. but its net profit zoomed by 450% to Rs.48 cr. on the
back of better operating margins. This led to an EPS of Rs.8 on equity of Rs.59
cr. considering its focus on jewellery business and retail expansion; it is
estimated to report a turnover of Rs.2000 cr. and net profit of Rs.70 cr. for
FY07. This will translate to an EPS of Rs.12 and at a reasonable discounting of
18 - 22 times; it should trade in the range of Rs.220-260. Investors are strongly
recommended to buy and hold for at least 15-18 months

Marketing Strategies
In 1997 Gili introduced Rivaaz, a collection of ethnic Indian jewellery
Gili to attract its costumers and satisfy its consumers comes up with
strategies like

a) Gili promise
i.e. Guarantee of Authenticity of its products.
b) provides with certificate of Authenticity
c) ISO-9001:2000 & Best Business Practice Certificate The
BBP Certification encompasses areas including
Employee Safety, Satisfaction Index, Medical
Availability, Environmental Protection Standards, etc.
d) Seasonal Advertisements: Hoardings, Brochures to
Valued Customers & Occasional Ads like Valentine
Specials, Raksha Bandhan, Personal Hearts, Bridal
Jewellery, etc.
e) Corporate gifts Collection: The Brand is very much
popular in the market for its Corporate Jewellery
Collections
f) Costumer Care: Gili’s attempt to build a rapport with its
end consumer is set up of Customer care service 10.00am
to 9.00pm 6 days a week.
g) Gili also comes up with special offers on top selling
products
h) Online shopping concept is also adopted by Gili

ACHIEVEMENTS & AWARDS

Gitanjali Group is Business Super brand 2008

Was presented the award by Brand Council of India

Gitanjali Group has been honoured by Brand Council of India with the
“Business Super brand 2008” award in the gem and jewellery segment. A Super
brand is profiled by its management, as one, which has established the finest
reputation in its field and offers customers significant emotional and/or tangible
advantages over its competitors, which (consciously or sub-consciously)
customers want and recognize. The concept evolved in the UK in 1993, and
came into India as Super brand India in December 2002.

Commenting on the award, Mr. Mehul Choksi, Chairman, Gitanjali Gems, says,
“Gitanjali has always stood for unparalleled quality, trust and reliability. It is
indeed a great honour to receive a prestigious award like the Super brand
Award. I believe that the marketing and the promotional activities of any
company plays a major role in the growth of any company and this award just
proves that”. The Gitanjali Group has nurtured brand values of leadership,
performance, trust, care, innovation and sensitivity, and has been providing this
package to its consumer communication focuses at eliciting segment, at every
stage of marketing, promotions and advertising. Gitanjali brand has and
continues to tap every human emotion, in effect becoming an expression of
emotions, for customers.

RESEARCH METHODOLOGY
WHAT IS RESEARCH METHODOLOGY?

It is the science that tells the method of doing research .It mainly consists of
following steps;

 Developing research design

 Determining the data collection method
 Developing sampling plan
 Conducting field work
Research in common parlance refers to a search for knowledge. One can
also define research as a scientific and systematic search for pertinent
information on a specific topic.
The word research has been derived from French word Researcher means
to search.

DEFINITION OF RESEARCH METHODOLOGY:

Research may be defined as "a careful investigation or enquiry specially

through search for new facts in any branch of knowledge "in a technical sense
research comprise defining &redefining problems, formulating hypothesis or
suggested solutions; collecting ,organizing &evaluating data; making
deductions & reaching conclusion & at last carefully testing the conclusion to
determine weather they fit the formulating hypothesis.

RESEARCH DESIGN:

Research Design is the conceptual structure within which research is

conducted. It constitutes the blueprint for collection, measurement and
analysis of data. The design used for carrying out this research is
Descriptive.

RESEARCH DESIGN USED IN THE SURVEY:

Considering the objectives of the study and also the importance of the decision
it was decided to undertake an exploratory survey.

DATA COLLECTION:

Types of data:

1. Primary data- primary data are those which are fresh and collected for the
first time and thus happen to be original characters.

2. Secondary data - It is the data that is already been collected by someone else.

In this survey I used both primary and secondary data. All information collected
through questionnaire.

DATA SOURCE:

The sources of collection of secondary data are:

 Questionnaire
 Books
 Websites
 Magazine
 Brochure
SAMPLING PLAN:

It is very difficult to collect information from every member of a

population .As time and costs are the major limitation that the researcher
faces.

A sample of 30 was taken the sample size of 30 individuals were selected

on the basis of convenient sampling technique. The individuals were
selected in the random manner to form sample and data were collected
from them for the research study.
 LIMITATION

TIME CONSUMING

 It is a time consuming activity.

COSTLY

 In the preparation of project lot of money Waste

REQUIRED EFFORTS

 It takes many efforts to complete the project in searching

magazine, news paper and Internet.

LACK OF SECONDARY DATA

 Proper Secondary Data was not Available

 SWOT ANALYSIS
STRENGTHS
•Large integrated diamond & jewellery player and having an international
presence.
•Pioneers of branded jewellery in India.
•Strong marketing & distribution network. Strong retail presence in India
and in U.S. 112 distributors and 1246 outlets in India and 143 outlets in
U.S.

•Strong brand equity and broad product range Such as, Gili, Asmi,
Nakshatra, Sangini, D’damas, Vivaaha, Maya, Giantti, Desire, Samuels etc.
•Visionary leadership (Acquiring Nakshatra, Samuels, Rogers etc.)
•Expanding manufacturing capabilities in Mumbai and at special economic
zone in Surat to address increasing demand.
•Net Worth is 3,460.37 million Rs. So we can say that it is financially very
strong company.
•Sight holder status with DTC through a promoter group company.
•Highly skilled, qualified and motivated employee.
WEAKNESSES
•There may be conflicts of interest between them and certain of their
Promoter group companies.
•As the major raw material requirements need to be imported, companies
normally stock huge quantities of inventory resulting high inventory
carrying costs.
•Technology is less improved compared to China and Thailand’s company.
OPPORTUNITIES
•New markets in Europe & Latin America.
•Growing demand in South Asian & Far East countries.
•Industry moving from a phase of consolidation.
•Expansion possibilities in lifestyle and luxury products in India like
watches, leather goods, Platinum jewellery because increasing disposable
income of people.
THREATS
•International Competition:-China, Sri Lanka and Thailand’s entry in
small diamond jewellery.
•Increase in the price of Gold & Diamonds.
•Other local competitors. According to the data 97% jewellery sales
are by family jewelers.
•Threat from producing nation like S.A. & Russia.

CONTENTS

 PRFACE
 ACKNOWLEDGEMENT
 CERTIFICATE
 DECLRATION BY THE CANDIDATE
 INTRODUCTION
 HISTORY
 COMPANY PROFILE
 CHANGE IN PERSEPTION
 FACTS ABOUT JEMS AND JEWELERS
 BRAND JEWELERY FIRMS
 MARKETING STRATIGIES
 MARKET SHARE
 COLLECTIONS
 ACHIEVEMENT AND AWARDS
 BRAND AMBASSADER
 RESEARCH METHODOLOGY
 SWAT ANALYSIS
 LIMISTIONS
 BIBLIOGRAPHY
 ENCLOUSURES

CONTENTS

 PREFACE
 ACKNOWLEDGEMENT
 CERTIFICATE
 DECLARATION BY THE CANDIDATE
 INTRODUCTION
 HISTORY
 COMPANY PROFILE
 BOARD OF DIRECTORS
 CHANGE IN PERCEPTION
 FACTS ABOUT JEMS & JEWELLERS
 MARKETING STRATEGIES
 MARKET SHARES
 ACHIEVEMENT AND AWARDS.
 OBJECTIVES
 RESEARCH METHODOLOGY
 COLLECTION
 BRAND AMBASSADOR
 SWOT ANALYSIS
 SUGGESTIONS
  LIMITATIONS
 CONCLUSION
 BIBLIOGRAPHY
 ENCLOSURES

Conclusion

The conclusions that can be drawn from the study are:

1. The guiding factor behind purchasing jewellery is price, purity and design
which score the maximum. Other factors are variety, the brand image, influence
of family and friends. The least guiding factor for purchasing jewellery is the
service and display. Hence when a customer goes to buy jewellery they do keep
the price in mind followed by the purity and the design. Factors like service
given the shop or by the jeweler and the display do not have a very big impact
on the customers.
2. Branded jewellery is extremely popular since it has 100% awareness. This may
be due to the wide spread publicity taken up by the various brands. Brands like
Gili, Ddamas, and Tanishq are again the most popular brands. Trendsmith is a
brand by Tribhovandas Bhimji Zaveri (TBZ) which is not very popular.
3. As stated in the literature review that ‘there was a shift in consumer tastes:
women were increasingly opting for fashionable and lightweight jewellery
instead of traditional chunky jewellery.’ Is proved to be correct by this research
as respondents have selected fashion over investment while purchasing
jewellery. Now jewellery is regarded as more of an accessory and less of an
investment.
4. Branded jewellery is bought by more than 3/4 th of the population. Hence it can
be said that the population is aware and has also tried these brands.
5. When jewellery is bought for gifting purpose the population still wants to buy
it from their family jewelers.
 OBJECTIVE

1. Main objective of the project is to find out the marketing

strategies of Geetanjali Jewellers.

2. To find out the company profile.

3. To find the history of Geetanjali Jewellers.

4. To find about the facts of JEMS & JEWELLERS.

5. To find out market shares , collection, achievement and

awards and Brand Ambassador.

 SUGGESTIONS

1. Please open your show rooms in small cities also .

2. Low your price, everyone cannot afford it.

3. Make your jewelery in 24 Carrots.

4. Wedding Jeweleries should be more renovated.

5. Casual Jwellery should also be introduced.